Term Life Insurance Quotes

With a term life insurance policy,

• Your family will receive a large, short-term death benefit at an affordable price.
• It allows your family to replace your income, pay off debts, fund education savings plans, and more.
• You can choose the length of the term from 10 to 40 years so premiums are guaranteed for the entire term.
• You can convert it to a permanent insurance policy without evidence of insurability when you don’t have a short-term need anymore. This is important in case your health has declined and you don’t qualify for a new policy anymore.

Term life insurance is great if you want to cover short to medium-term liabilities like a mortgage or business loan. For a young family with a tight budget, there is no lower-cost option than term life insurance. 

Term insurance is also a good option if you’re over 50 and you’re in good health. Most term policies expire at age 80 so you can still get a term-20 or term-30 policy at an affordable price.

The premiums of a term life insurance policy are fixed for the length of its term. After the term is up, it will increase by a pre-specified amount. It’s common to see premiums increase by 3-10x after the initial term, so you don’t want to renew it past the initial term.

You can also convert all or part of the death benefit into permanent life insurance. When the temporary need is replaced by a permanent one, this is an ideal way of keeping insurance coverage without having to qualify for it again.

Quote with all the largest insurance companies in Canada. Use our life insurance calculator to determine how much you need.

If you’re looking for a long-term solution that will pay out a death benefit in the later stages of life and can accumulate cash through investments, permanent life insurance may be more suitable for you.

Read more about term life insurance:

Term life insurance and its 5 most common uses

Term versus permanent life insurance: which one is right for you?

Joint first-to-die life insurance: Pros and cons

Should you renew your term insurance policy?

To get a quote on term insurance, use the tool on the right (or bottom, if you’re on your phone) of the page. Enter your date of birth, gender, and smoking status and your preferred term length (eg. 10 to 40 years).

If term life insurance isn’t right for you, check out permanent life insurance.